Alvar Pet, a leading Finnish direct-to-consumer pet food brand, announces today the acquisition of Verkkokauppa Kivuton, a Finnish online store focusing on pet health. The acquisition follows the announcement of Juuri Partners joining as a strategic partner in Alvar Pet’s growth story.
Together, Alvar Pet and Kivuton form the largest online store in the Nordics specialised in pet health, offering pet owners a wide range of veterinarian-developed products and diets individually tailored to pets’ needs.
“We are excited to combine expertise with Kivuton. Originally a veterinary clinic, Kivuton has a deep-rooted focus on pet health. By joining forces, we can offer unique nutritional expertise and an extensive range of specialty diets for pet owners who value the well-being of their pets,” says Ilari Haataja, co-founder and CEO of Alvar Pet.
Juuri Partners, a Finnish growth investor, joins as a strategic partner in the company. Juuri Partners is known for its investments in ambitious, entrepreneur-driven growth companies in Finland.
“We have closely followed the development of the pet market and see interesting growth opportunities, especially in the online segment. By combining a strong brand in pet wellbeing with an online store specialised in veterinary pet diets, we’re creating a unique player in the market that caters to pet health comprehensively. We are excited to be part of this fantastic growth story together with the entrepreneurs,” says Juuri Partners’ partner, Anita Ojala.
“The partnership and investment enable us to take the next step in our journey. Our cooperation has been excellent from the beginning and we share the vision of the company’s strategic development towards a leading company focused on sustainable pet well-being in Europe,” says Haataja.
Significant growth opportunities in premium pet products
The global pet market is estimated to grow to 500 billion dollars by 2030 (Bloomberg, 2023). Demand for individually tailored pet diets has also grown significantly. According to Alvar Pet’s database that covers over 100,000 dogs, more than half of the dogs have special needs that owners seek to address through a diet.
“Pet owners are showing increased interest in supporting the health and special needs of their pets through nutrition. Products of Alvar Pet are developed under our veterinarian’s guidance, and Kivuton offers the most extensive range of special diets in the country. Together, we aim to make individual and responsible premium pet foods more accessible to pet owners across the Nordics,” says Haataja.
Over the past three years, Alvar Pet has become one of Europe’s fastest-growing startups in the pet industry. The joint annual sales of Alvar Pet and Kivuton have surpassed 10 million euros, exhibiting a 60 percent annual organic growth rate. Alvar Pet serves more than 40,000 pet households across the Nordic countries, such as Finland, Sweden, and Denmark. The company produces its products in the Nordic region, offering a local and sustainable option in the premium dog food market.
Contact details
Ilari Haataja
Co-founder & CEO, Alvar Pet
ilari@alvarpet.com
Anita Ojala
Partner, Juuri Partners
anita.ojala@juuripartners.fi
Alvar Pet Oy
Alvar Pet, a Finnish pet industry growth company established in 2020, provides individually tailored dog diets. These diets are designed by veterinarians and nutrition experts. Alvar Pet prioritises health, high quality, and sustainability in its product range, aligning with its mission to minimise the carbon paw print. The company specialises in individually tailored feeding plans, which are developed under the leadership of the company’s veterinarian and Alvar Pet’s co-founder Henna Söderholm, utilising the company’s extensive database and machine learning. www.alvarpet.com
Juuri Partners Oy
The 12-person team of Juuri Partners Ltd manages the private equity funds Juuri Rahasto I Ky and Juuri Rahasto II Ky amounting to approximately €200 million, which finance established and profitable small- and medium-sized enterprises in Finland. Juuri Partners offers growth-oriented companies a business financing and development concept that combines active ownership, debt financing and strategic business support. The investor base for the funds comprises both Finnish and international institutional investors. juuripartners.com/